Passive Earnings of WAX & HIVE intro + Weedcash NFT airdrop & WAX NFT airdrop(1st of 3)
Passive earning mechanisms of WAX & HIVE are essential to the user experience, Play to Earn Titles + NFTs can get costly. Add to this the time requirements to make a profit & suddenly you realize its unsustainable by itself. While not always the case there are those doing this as a income it requires resources not everyone starts with.
That's why todays Write Up will explores the boring aspects of HIVE & WAX such as passive earnings. Systems like Staking, Liquidity pools, DPoS, Curation, & Smart Contracts will be explained in regards to WAX & HIVE.
Figure ill airdrop & tack on some knowledge bombs today, because in the crypto industry knowledge of the particular blockchain ledger your utilizing can translate to profit.
A few terms you will need to understand for todays write up as they make up the majority of the passive earning mechanisms.
DPoS- DPoS or Delegated Proof of Stake is a verification and consensus mechanism in the blockchain. Other blockchain consensus mechanisms include, PoW Proof of Work (BTC), PoS Proof of Stake (ETH,BSC).
Techopedia Explains Delegated Proof of Stake (DPoS) as quote "In a delegated proof of stake system, stakeholders build consensus according to their amount of stake in a cryptocurrency system."
HIVE & WAXP are functionally DPoS based blockchains with smart contact integration replicating or including some PoS functions.
Smart Contract Since I just brought up Smart Contracts IBM defines a Smart Contract as quote- "Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met."
Many system functions utilize smart contracts as their applications are nearly endless.
Liquidity Pools- Liquidity Pools are Defined by Binance academy as quote- "A liquidity pool is a collection of funds locked in a smart contract. Liquidity pools are used to facilitate decentralized trading, lending, and many more functions we’ll explore later."
"Liquidity pools are the backbone of many decentralized exchanges (DEX), such as Uniswap. Users called liquidity providers (LP) add an equal value of two tokens in a pool to create a market. In exchange for providing their funds, they earn trading fees from the trades that happen in their pool, proportional to their share of the total liquidity."
Curation- Curation not necessarily a investment term but in regards to HIVE its relevant as HIVE is a form of monetized social media. Wikipedia Defines Curation as quote-
"Content curation is the process of gathering information relevant to a particular topic or area of interest, usually with the intention of adding value through the process of selecting, organizing, and looking after the items in a collection or exhibition."
Staking- Coinbase Defines Staking as quote- "Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn staking rewards."
Though typically reserved for PoS there are smart contact usages on DPoS Blockchains that replicate the result or function like Staking.
Minor Clarification that should not be that important WAXP is the DPoS WAX blockchain, However Blockchain Governance of WAX is handled both on (DPoS) WAXP & on (PoS) ETH based WAXG / WAXE.
Not very important that fact about WAX just know that WAX isn't exactly the same as other DPoS models like EOS or HIVE. Most users of WAX never encounter these systems utilizing WAXG or WAXE so its not that important for this write up.
HIVE liquidity pools
Like on many other Blockchains some of the better investment opportunities lie with liquidity pools. HIVE liquidity pools function similarly but have some key differences.
There are HIVE liquidity pools both with👆 & without👇 Rewards pools attached.
In addition to Rewards Pools there are bonus rewards for certain HIVE liquidity pairings like on Beeswap some have BXT rewards.
Not to mention the daily % bonuses & in the case of certain DEC pools granting 2x the Airdrop points for the Splinterlands SPS daily airdrop.
I utilize Beeswap as it has BXT rewards on some pools BXT is Beeswaps Token with Staking options ill go over later.
Many of HIVE play to earn games & Blogs revenue can be increased drastically by utilizing Liquidity pools with revenue.
WAX Liquidity Pools
This aspect of WAX is still in its infancy there are only 2 examples to point to for liquidity pools with rewards on WAX.
First they had BLUdac but this liquidity pool rewards system is designed with Alcor being utilized as well as required Pass NFTs. Bludac is a mess here is a link to both but I'm not going to explain this train wreck.
Bludac just was merged with Rplanet improving the layout & Liquidity pool functions (now you can make your own),That being said you still need a NFT pass 👇 & its fairly complex.
Now there is a vastly improved site for WAX liquidity pool rewards.
Unlike Bludac no NFT pass required, Defibox handles all its own liquidity pools as well making it a vast improvement.
Supplying Liquidity on Defibox Grants you BOX mining power which is mined hourly.
Other then the value of Liquidity provided Defibox is free which isn't true with Bludac. Making Defibox the only real option for liquidity pools on WAX right now.
HIVE / WAX Staking basics
Like every topic of discussion surrounding HIVE & WAX Staking is confusing AF. Staking doesn't work as it does with PoS as DPoS is inherently more complicated.
A major part of DPoS is delegation of Voting weight, measured based on how much you have staked. So staking more grants a larger vote weight then staking less.
Both HIVE & WAX conduct blockchain Governance votes based on staking. Both blockchains also measure Staked resources to grant system resources allowing for transactions or conformations.
WAX Staking basics
So WAX is exceedingly complex but simplifying it as much as possible with WAXP the typical form of WAX staking grants 2 System Resources CPU or NET.
CPU is used for asset transfer or creation, games like alien worlds utilize CPU when ever TLM is (mined) by the player. NET while used less frequently is typically needed for certain functions like opening packs.
Both NET & CPU regenerate when unused & staking determines how much can be used by that account.
RAM the 3rd WAX blockchain resource is purchased. RAM is needed for producing NFTs, NFT smart contract operations, or Posting sales / creating Airdrop links like I do in each post. As for sales or link generation the RAM can be sent back to the individual creating the transaction once completed.
RAM may be sold & CPU / NET unstaked here👆 Blocks.io handles much of WAX Staking & governance so ill cycle back in a moment.
First a small tip though I cant help how much resources a game requires if you post sales or open packs on Nefty Blocks you dont use system resources.
WAX grants 10 free transactions daily as well so there is that also.
Blocks.io allows users that staked WAXP to Vote manually or set validators or Proxies they trust with their vote weight. Not required but it can be rewarding generating Genesis Block rewards for participation.
To be honest my knowledge around this point starts to break down as I'm not a expert by any measure.
I'm less experienced with WAX system governance, but more knowledgeable about WAX asset creation, & NFT portals systems involved with NFT creation / distribution.
HIVE Staking Basics
HIVE has HP Staked HIVE referred to as HIVE power, the other Tribes or Blogs also have power systems like WEED POWER for Weedcash. HP or other blogs staked assets effect your vote Weight in that crypto.
Strictly referring to HP it like WAX system resources is required for all transactions requiring wallet conformation.
There is also a governance Vote for users 30 for each account you use this to vote on system changes or upgrades of HIVE projects you support.
If you have a HIVE account please use these Votes on projects you support not enough people do & this system makes HIVE special.
DPoS weakness effectively gets addressed with the witness vote system but we need to utilize it or the whole system breaks down like democracy.
Lets not do this 👆 use your witness vote here.
Staking for both WAX & HIVE only gets more complex from here yah all this was is an intro.
HIVE asset Ownership
Yeah simply owning certain assets on the HIVE blockchain generates daily rewards, Similar to how the SPS airdrop functions distributing daily rewards. Via assets level Snapshots taking place daily but unlike SPS Airdrop most of them dont end.
Both NFTs & Crypto have systems like this on HIVE more crypto then NFTs because the NFT creation systems are less advanced for average users.
NFT ownership granting rewards for ownership occurs with the following HIVE games NFT collections.
Owning a Water Tower NFT in Hashkings generates HKWATER Daily
This is not all that profitable being what they dub a water baron in game however soon they will introduce Factory NFTs & assistant NFTs in game. When set up correctly this could in effect make the whole game a source of passive Crypto generation.
So weather you like cannabis or hate it Hashkings should be on your radar.
Dcity generate SIM their crypto or other coins Such as WEED, GAMER, & BEER based on what NFTs make up your city or build. SIM after a certain threshold generates HIVE daily known as SIM power.
Dcrops like Dcity pays out HIVE to users that have enough Crop power, unlike Dcity SIM power Crop Power is measured based on all Dcrop assets not just their crypto CROP.
To me Dcrops is easier & more profitable
Details on Crop power
Obviously Splinterlands has SPS airdrops for the next 190 days & renting cards is passive income as well off this play to earn game.
This is already a very long write up & Splinterlands is HIVEs most popular Dapp, this write up being focused on new Splinterlands players unaware of other HIVE earnings mechanisms.
So moving on to HIVE crypto ownership rewards which also includes SPT & DEC currently for the SPS airdrop in Splinterlands.
BRO is one of the best Cryptocurrencies on HIVE with a ownership payment system.
If your a diehard Splinterlands fan for the SPS airdrop duration XCHAOS pays out DEC daily.
INDEX also does daily payouts of crypto there are so many projects like this on HIVE. This is what HIVE excels at is this form of passive income. In any one hour every day I'm receiving payment on HIVE might be small increments but its 24 / 7.
WAX asset Ownership
HIVE has its functions surrounding their crypto & Social media monetization, WAX has a singular area of focus NFTs. This is why many of WAX blockchains passive earning mechanisms revolve around NFTs.
No expert but I have some examples with WAX of passive earnings through asset ownership.
Mine or land Plot NFTs on the following WAX collections
Zombie Coin Miner
Alien Ships New Mine Sale Currently
Rplanet Has land plots (side note on Rplanet) Everyone may hate Rplanet at the moment as their AETHER staking just stopping out of the blue seen many NFT owners loose money.
I lost money thanks to Rplanet but what will be will be no reason to dwell on it. Rplanet is loosely affiliated with Rland. Rland just did a massive overhaul of Bludac & started their own asset generation NFT colection on WAX.
Rland has been quite active then all of a sudden Rplanet switches the AETHER generation, Now Rplanet has a Big update advertised.
The TLDR is you might want to be the owner of Some AETHER Rplanets crypto given the low price and all these warning signs with no news to speak of.
AETHER is Cheap like over 1,000,000 AETHER for $1 USD, the market has given up on Rplanet which I understand but there are key WAX projects that keep adding tie ins to AETHER & Rplanet.
You can trade WAX for AETHER here
We will just stop here with the WAX staking ill pick this up in a part 2 going over more HIVE & WAX passive earning mechanisms.
It appears this write up is getting a little long winded & since there are still so many passive earnings mechanisms to get to ill end this here. Part 1 of my HIVE & WAX passive earning tips series.
These tend to be complex or boring which is why the Play to earn market in particular doesn't focus on it.
Since Splinterlands boom effectively brought with it a HIVE & WAX user spike its important users understand the basics to build upon that foundation.
My core focus of these posts is to convey ways you can pay for NFTs without sacrificing income. This is why these passive earning mechanisms are so important.
Weedcash NFT (Hive only Airdrop)
I will start including a Weedcash NFT airdrops, 3 #tokingtokens from my personal Weedcash NFT colection get given away on this post.
First 3 to do so get this Special edition #tokingtoken
This will only be made available through give away events meaning you will be receiving an NFT the market does not have access to.
You may sell, view, or transfer the Weedcash NFT at the link above. You sell them for WEED Weedcash tribes native token which can be traded on Tribaldex, Beeswap, Hiveengine.
These will serve as my HIVE give away tests using the my Weedcash NFTs to see if people are willing to participate in this fashion.
If successful ill begin expanding what HIVE NFTs you can expect like SPT NFTs, Palnet NFTs, even Rising Star NFTs, Dcrops NFTs, Splinterlands assets, & Hash King NFTs.
Please be sure to comment #tokingtokens & re-blog to participate.
WAX Airdrop tutorial
WAX NFT airdrops via URL I give out 12 NFTs with every post first on HIVE then PublishOx Finally Torum you will find the 3 airdrops easiest through HIVE I leave PublishOx & Torum links in the comments of the HIVE post.
Easy as 1 2 3
I keep everything random giving you the best odds all 3 are airdropped on the same day in the order specified at random.
You may join all three through these links
WAX airdrop 1st of 3
All 3 WAX airdrops are the same every NFT goes to a play to earn games.
You can find my over 1900 NFTS on WAX here
I try to post all airdrop links on twitter as well as HIVE if you want to help support future airdrops Re-blog
upvote subscribe please it really helps.
All my accounts below are monetized & I appreciate Crypto or NFT donations on the following
All donations go toward making airdrops bigger & better Thank you all your support keeps all this going.
My Weedcash NFTs can be found here
This April look for my Weedcash 4/20 365 NFT monthly loot box passes.
Part 2 should tackle curation for HIVE + advanced Staking of WAX & HIVE.
To get my HIVE airdrops like todays Weedcash Airdrop you need to have a HIVE account, They are free you can sign up via this link.